What does Elliott Management see in Pinterest?
Running Point and its chief investment officer, Michael Ashley Schulman, CFA, were quoted by Reuters in an article—by Yuvraj Malik, “Pinterest shares surge after Elliott discloses it is the largest shareholder”—regarding activist investor Elliott Investment Management disclosing that it owns the largest public stake in Pinterest. Personally, I was not very surprised since it had been disclosed in July that Elliott had an over 9% stake in Pinterest.
Pinterest offers a distinct way for businesses to market
Elliott, an activist investor is now the largest owner of social network Pinterest which is still early in its monetization strategy—with a unique and growing user base—versus many other social networks like Twitter, Instagram, BeReal, Snap, and TikTok. As a visual search engine, Pinterest offers a distinct way for businesses to market. I think Elliott may be on to something here! Recall that last October, PayPal explored purchasing Pinterest when it was at a much higher valuation. Additionally, Pinterest’s new CEO, Bill Ready, who previously ran commerce at Google, could be a true catalyst for change, improvement, and fresh revenue.
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